Intern @globeandmail with the Report on Business • Master of Journalism student @JSchoolNow • @yorkuniversity HBA ‘19 • 2020-21 Editor-in-Chief @ExcaliburYUSource
Netflix Inc. soared during the pandemic as people flocked to the video-streaming giant to occupy themselves at home amid widespread public-health restrictions. But now that much of the world has reopened, Netflix has staged a reversal of fortune.The company forecasted a loss of two million subscribers Tuesday in the second quarter this year, on top of a loss of 200,000 subscribers in the first quarter – its first drop in 10 years. Shares in Netflix plunged 35 per cent on the news Wednesday, erasing about US$54-billion in market value.It’s a sharp contrast from the past two years, when tens...…Netflix Inc. soared during the pandemic as people flocked to the video-streaming giant to occupy themselves at home amid widespread public-health restrictions. But now that much of the world has reopened, Netflix has staged a reversal of fortune.The company forecasted a loss of two million subscribers Tuesday in the second quarter this year, on top of a loss of 200,000 subscribers in the first quarter – its first drop in 10 years. Shares in Netflix plunged 35 per cent on the news Wednesday, erasing about US$54-billion in market value.It’s a sharp contrast from the past two years, when tens...WW…